Reason for Legal search-Buying a  piece of land or real property is all about finding a buyer (vendor) willing to sell and meeting the price for the property but many people fall into the mistake of dealing with vendors of properties in trust, assuming that the fact that they have known one another for donkey years or the fact that an agent has assured them of good title is sufficient to avoid future troubles with respect to the land or real property.

It is of paramount importance to take some certain steps prior to the purchase of land or landed property, during the course of purchase and even after the purchase has been made for the sake of securing ones interest in the said property. Below are the stage involved in conducting legal search in all transaction as regards land and landed property.

First Aspect is to meet and discuss on the property: price, mode of payment, nature of vendor’s title etc. After parties have agreed on the purchase price a Contract of Sale Agreement is drawn up pending when the Purchaser would carry out investigation to deduce the nature of the Vendor’s title to ascertain that the property truly belongs to the Vendor and is free of any encumbrance and for the buyer (vendee) to know this he need to collect all the sufficient document as regards the interest it might be Certificate of Occupancy, Deed of Assignment/Conveyance and Survey Plan, Registered Title, Court Vesting Order etc. the buyer (vendee) will know perform the below task to know the authenticity of the title document as regards the Landed property

 Search at the Lands Registry – The Land Instrument Registration Law of each State establishes a land registry for the State, where documents relating to land within the territory are kept, and it varies from one State to another.

Search at the Corporate Affairs Commission (CAC)– This is necessary where the vendor or past owner is a company incorporated under Companies and Allied Matters Act. Apart from the searches at the land registry, there should be a further search at the CAC to reveal whether or not there is an Read more...at http://nigeriarealtor.com/?p=1408&preview=true

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